Wealth: Villain or Misunderstood Hero?
“Money is the root of all evil” is a commonly misquoted bible verse (1 Timothy 6:10) that I hear in my line of work. The beliefs behind this phrase are that wealthy people exploit others to gain, that becoming wealthy requires sacrificing morals, or that wealth = greediness.
Have you or someone you know ever expressed negative sentiments about wealthy people? This may look like:
- “The 1% exploit the rest of us“
- “Behind every great fortune is a great crime“
- “At least I can sleep at night knowing I didn’t cheat anyone”
Recently a friend and I were on Tampa Bay, checking out the enormous waterfront homes from her boat. I caught myself thinking: “I wonder how many of these lavish homes were built with drug money?” Say what?? 👀 I could have just as easily thought: “I wonder how many lives that doctor who lives there saved?“… buttt I didn’t.
While these assumptions may contain kernels of truth, [incoming truth bomb] they actually say more about the person expressing them. Our beliefs about wealth are like a mirror reflecting our own fears, insecurities, and unresolved issues. The actual truth is that money is amoral; it is neither inherently good nor evil. The ethical implications of money arise from the intentions and actions of the humans using it.
We reap the benefits when we’re willing to transform our beliefs about wealth into positive narratives. Viewing money as a tool for good helps us make well-informed financial decisions, attract more financial opportunities, and bounce back from financial setbacks because we view challenges as learning opportunities.
How to transform our beliefs:
- Recognize any negative belief patterns tied to wealth. Examine where these may have come from (e.g., parents, TV, career) and seek evidence that contradicts these beliefs. (e.g., Forbes estimates that the lifetime giving of the nation’s top 25 philanthropists as of 2024 rose to $241B)
- Enhance literacy around personal finance and wealth creation. ‘The Psychology of Money‘ and ‘Wounds to Wealth‘ are two of my favorites.
Transforming our perspective on money can be the catalyst for a more vibrant, purposeful, and expansive life journey. It literally has the power to revolutionize our entire outlook on life – our relationships, career choices, and overall sense of fulfillment.
